Hourly earnings growth in the Construction sector hit 5% in June, reaching the highest level since 2011.

That’s according to the latest Paychex/IHS Markit Small Business Employment Watch, which started in 2011. Overall average hourly earnings growth for the month stood at 5.10%, compared to 5.16% from May 2022.  This was the first decline in hourly earnings growth since May 2021. Hourly earnings have increased $1.48 during the past year, now reaching $30.42.